China's NBS: Implements plans to boost incomes and support consumption

Sagar Dua FXStreet

A spokesperson from China’s National Bureau of Statistics (NBS) outlines various measures during the Asian trading session on Monday, which the government intends to adopt this year to support consumer demand and the economy.

Remarks

Sound start for the economy this year spurred by 'new productive forces', including tech innovation, AI.

China's economy still faces 'strong supply, weak demand' problem.

China's energy supply capacity sufficient to cope with volatile global prices.

Expects the economy to maintain steady trend this year.

Expects China's price situation to improve as govt implements plans to boost incomes and support consumption.

Market reaction

There seems to be no immediate impact of these comments on the Australian Dollar (AUD). As of writing, AUD/USD trades 0.4% higher to near 0.7000.

Australian Dollar Price Today

The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the strongest against the US Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.28%	-0.24%	-0.08%	-0.04%	-0.38%	-0.68%	-0.27%
EUR	0.28%		0.13%	0.20%	0.25%	-0.09%	-0.28%	0.01%
GBP	0.24%	-0.13%		0.15%	0.12%	-0.21%	-0.44%	-0.07%
JPY	0.08%	-0.20%	-0.15%		0.07%	-0.29%	-0.43%	-0.18%
CAD	0.04%	-0.25%	-0.12%	-0.07%		-0.33%	-0.56%	-0.19%
AUD	0.38%	0.09%	0.21%	0.29%	0.33%		-0.22%	0.22%
NZD	0.68%	0.28%	0.44%	0.43%	0.56%	0.22%		0.36%
CHF	0.27%	-0.01%	0.07%	0.18%	0.19%	-0.22%	-0.36%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote).

Author

Sagar Dua

FXStreet

Sagar Dua is associated with the financial markets from his college days. Along with pursuing post-graduation in Commerce in 2014, he started his markets training with chart analysis.

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